Archives for January 2012
MySpace was founded in 2003. In July 2005 it was acquired by News Corporation for $580 million. For about 3 years Myspace was the most visited social networking site in the world. It surpassed Google as the most visited site in America in June 2006. That’s when the decline began. By the end of last year, 2011, the site ranked about 138th in most visited (that’s still impressive, but not as impressive).
On June 29, 2011, Myspace was sold to Justin Timberlake and Specific Media for approximately $35 million…a mere 6.03% of what News Corporation had paid some six years earlier. In terms of sheer purchase price, MySpace had managed to lose a value of $545 million. That’s about a $91 million a year decline in value over 6 consecutive years.
All those resources lost. Oh, and in a 2 year period, between June 2009 and June 2011, MySpace jettisoned 1400 people. More lost resources. New Corporation likely would love a “do-over.” $545 million, 6 years, and who knows what else – gone! Suddenly, I feel better about my $50,900 loss.
Every quarter there are tremendous losses and wasted resources. We read about them constantly in the business press. Even the mainstream press.
Well, we don’t have millions of dollars. We’re not Justin Timberlake. How does any of this apply to our life?
Click play and find out. It’s a sober message that everybody needs to more seriously consider. Life is short. Resources are limited. We all need to allocate more wisely.
The Freakonomics podcast is mentioned in today’s show. In particular, this episode about doctors washing their hands and people learning the basics of financial responsibility.
The headline? Leroy Jethro Gibbs said that. Yep, THAT Gibbs. The one we know and love on NCIS.
Teachers. Business people. Creatives. Leaders. We all need a degree of smartness. And patience.
The world is full of smart people. It seems to me there are far more smart people than patient people. Fewer still are those who are smart and patient.
It’s an interesting intersection of qualities.
Wisdom is typically defined as the application of knowledge and experience. I doubt wisdom is possible without the two components that Gibbs said made up the DNA of a sniper.
“For as he thinketh within himself, so is he,” says Proverbs 23:7. Some misconstrue the meaning. Most famous among them, Napoleon Hill who penned “Think And Grow Rich.” Yes, folks can become rich by first thinking about becoming rich, but don’t we know of many folks who think of little else – and they’re poor as can be? If we only had to sit around and think of being rich, then wouldn’t we all be rich?
That’s not to say the proverb is untrue. Generally speaking, a proverb is true. Yes, there may be exceptions. We see it in the person full of self-doubt, fear and reluctance – but still they achieve things others only dream of. Typically, people who become high achievers are people who have a strong belief in their own capacity to achieve.
Does it mean we can do anything we set our minds to? Hardly. Like it or not, we have limitations.
There are two things that help construct who we are, and what we are. In today’s show I discuss these two things.
Tom Brady is a celebrity quarterback and 3-time SuperBowl champion with the New England Patriots. Six quarterbacks were drafted ahead of him in the 2000 NFL draft. His story demonstrates how our own motivation can drive us to higher accomplishment.
In today’s show I play the audio from this YouTube video segment of ESPN’s The Year Of The Quarterback – Tom Brady.